Japan Consumer Prices Fall 0.1 percent in September

Japan's key consumer prices fell 0.1 percent in September from a year earlier for the fifth straight month of decline, reflecting a fall in prices of television and other electronic appliances, the government said Friday.

The core consumer price index, excluding fresh foods, stood at 99.8 against the 2010 base of 100, the Ministry of Internal Affairs and Communications said.

The size of decline was smaller than a year-on-year decline of 0.3 percent in August, due mainly to an increase in gasoline prices that resulted from rising crude oil prices, the ministry said.

The change in the core CPI in the reporting month was traced to moves of energy-related prices, a ministry official said. “Other than that, not much change was observed generally” in the trend of prices, he said.

The latest figure underscored that the Japanese economy stays under deflationary pressure, which is speculated to prompt the Bank of Japan to further ease its monetary policy at its meeting on Tuesday.

via Mainichi

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